Market Trends of Medical Foods Industry
Cancer Segment Expected to Hold a Significant Share in the Market Over the Forecast Period
The cancer segment significantly contributes to the growth of the medical foods market, as patients often need specialized nutritional support to manage treatment side effects and improve recovery. With the increasing prevalence of cancer globally, there is a rising demand for tailored medical foods that address specific dietary needs associated with various cancer types. These products can improve patient outcomes, boost immune function, and aid in weight management, further fueling market expansion.
The cancer segment drives growth in the medical foods market due to the increasing prevalence of cancer and the need for specialized nutritional support for patients undergoing treatment. Medical foods tailored for cancer patients help manage side effects, improve recovery, and enhance overall quality of life. For instance, according to data updated by the Spanish Network of Cancer Registries (REDECAN) in January 2024, approximately 286,664 new cancer cases were expected to be diagnosed in Spain in 2024 as compared to 279,260 new cases of cancer diagnosed in Spain in 2023.
According to data from the Global Cancer Observatory, Germany reported approximately 605,805 new cancer diagnoses, with 323,545 cases in men and 282,260 in women in 2022. Similarly, according to data updated in May 2024 by Cancer Research UK, the United Kingdom is expected to see an increase in the annual number of new cancer cases, from approximately 420,000 cases in the 2023-2025 period to about 506,000 cases between 2038 and 2040.
Furthermore, according to the overview of cancer in France published in 2023, around 433,136 cases of cancer were diagnosed in France in 2023, of which 57% were men and 43% were women. Therefore, the growing number of cancer cases will drive the medical foods market by increasing the demand for specialized nutritional products that help manage treatment side effects, improve patient outcomes, and support overall health. As healthcare providers and patients seek effective dietary interventions tailored to cancer care, the market is anticipated to expand in the forecast period.
Moreover, government partnerships with laboratories on food supplements designed to improve the quality of life for cancer patients are propelling the growth of the cancer segment in the market. For instance, in June 2024, the Department of Atomic Energy and M/s. IDRS Labs Pvt. Ltd from Bengaluru launched AKTOCYTE, a food supplement/nutraceutical to improve the quality of life for cancer patients undergoing radiotherapy. AKTOCYTE secured approval from the Food Safety and Standards Authority of India (FSSAI). With decades of scientific research at DAE as its foundation, the development of AKTOCYTE tablets marks a pivotal advancement in making cancer care more affordable in India.
In conclusion, ongoing cancer cases and the government's increasing focus on launching cancer-related medical foods to manage diseases like cancer are anticipated to result in significant growth of the cancer segment of the medical foods market over the forecast period.
North America Expected to Hold a Significant Market Share Over the Forecast Period
In North America, market growth is propelled by the rising prevalence of chronic diseases, a surge in preterm birth cases, and a trend among manufacturers toward collaboration agreements.
As chronic diseases like cancer become more prevalent, the medical foods market is expanding. This growth is fueled by the rising demand for specialized nutritional support, which helps manage treatment side effects and promotes recovery. The increasing burden of chronic diseases is projected to drive the market's growth in the forecast period. For instance, according to the American Cancer Society’s 2024 update, about 2.0 million new cancer cases are expected to be diagnosed in the United States in 2024. Also, every day, around 5,480 cases of new cancer are likely to be identified in the United States. Thus, the greater cancer incidence has hiked the demand for medical foods, which is expected to boost market growth over the forecast period.
Similarly, as per the November 2023 update by the Canadian Cancer Society, about 239 thousand Canadians were diagnosed with cancer in 2023, while 2 in 5 Canadians are expected to develop cancer in their lifetime. Thus, the high prevalence of cancer among the population necessitates the demand for medical foods, which is expected to fuel market growth over the forecast period. Therefore, the growing prevalence of chronic diseases like cancer will significantly drive the medical foods market by heightening demand for specialized nutritional products that cater to the unique needs of affected patients.
Moreover, the rising cases of preterm birth are driving growth in the medical foods market as there is an increased need for specialized nutritional support for both premature infants and their mothers. Medical foods formulated for preterm infants often contain higher concentrations of essential nutrients to promote growth and development, addressing their unique dietary requirements. For instance, according to the JAMA Network, in May 2024, in the United States, many infants were affected by these outcomes, with 10.5% born preterm and 28.8% born early term. Similarly, according to the Centers for Disease Control and Prevention (CDC), in May 2024, approximately 10% of infants born in the United States were affected by preterm birth in 2022. Therefore, as the incidence of preterm births continues to rise, the demand for medical foods specifically designed to support the health of premature infants and enhance maternal nutrition is estimated to grow significantly in the forecast period.
Moreover, companies focusing on collaboration in developing medical foods are boosting the market's growth. In February 2023, EraCal Therapeutics and Nestlé SA began working together to research new nutraceuticals for controlling food intake. In collaboration with Nestlé Health Science, EraCal leverages Nestlé's distinctive nutraceutical assets alongside its innovative drug discovery platform. This partnership aspires to redefine first-line nutraceuticals for individuals battling metabolic disorders.
Therefore, the North American medical foods market is expected to witness significant growth due to the abovementioned factors, like the growing cases of various chronic diseases such as cancer, rising cases of preterm births, and manufacturers increasingly focusing on collaboration agreements.
